Amazing letter re EGM on 3 December, page-4

If anyone needs another example of the large shareholder causing value destruction...

I still remember the Board rejecting COG's offer of $82m for the Business Finance division back in September 2019. Based on the September 2019 accounts, net assets for this division were $33m (it was $48m in the March 2019 accounts). COG were offering a decent premium. This division now has negative $13m of net assets based on the September 2020 accounts. Altogether, we're down circa $100m because they didn't sell for a premium ($49m) and net assets have dropped significantly ($46m).

So please vote 'em out while we have the chance. And quickly - meeting is this week.